first time buyer Mortgage guides

Looking for your first time buyer mortgage ? When you decide to buy your first home it should be an exciting time. But, sometimes there’s so much to think about that it can be quite daunting. For example: there’s thinking about what area you want to live in, knowing what type of property to look for, and even having to find a solicitor.

On top of all that, there’s sifting through hundreds of first-time buyer mortgages, which can be quite scary. Particularly if you’re not sure about what to do and in what order to do it. Just as well we have an array of first time buyer guides to help.

First Time Buyers and Mortgage Advice are a skill we've developed at MDFS

Buy and sell a home

Wondering how long it takes to buy or sell a house through an estate agent? Not sure what questions to ask when viewing a property? This guide explains what estate agents do, what fees they might charge and looks at other ways to buy and sell property, including online.

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Freehold v Leasehold

Freehold v Leasehold

If you own the freehold of a property, this means the property is owned outright, including the land it’s built on. So, if you buy a freehold, you’re responsible for maintaining your property and land. You’ll need to budget for these costs.

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It's a good idea to take your time when finding a solicitor

Finding a Solicitor

It’s a good idea to take your time when finding a solicitor or conveyancer. Solicitors or conveyancers look after the legal aspects of buying or selling a property. 

Normally, the first question you’re asked after making an offer on a property is the name of your solicitor or licenced conveyancer.

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Keyfacts Illustrations – Mortgages

The keyfacts Illustration document or the ESIS if that is given to you instead, makes it easy for you to compare the total cost of mortgages side by side because the documents contain the same information, usually presented in the same way.

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Negative Equity

A property is in negative equity if it’s worth less than the mortgage secured on it, and it’s normally caused by falling property prices.

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Finding a Mortgage Broker

Finding a Mortgage Broker

Finding a Mortgage Broker – A mortgage broker will take the leg work out of looking for a mortgage. They will research the mortgage market, compare different deals, charges and criteria.

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Mortgage Decision in Principle

Mortgage Decision in Principle

Only 3.5% of people using online mortgage pre-qualification tools (Mortgage Decision in Principle) finally get the mortgage that was agreed during pre-qualification when it comes to fully applying for a mortgage…

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The Home Buying Processs

Home Buying Process

It’s good to look at the home buying process before starting your hunt for a new home, it’s an idea to work out what you can afford to spend each month and how much you can borrow.

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*first time buyer*

First Time Buyers are classified by most mortgage lenders as those who have either:

  1. Never owned a property or
  2. People who have owned a property in the past, but not owned one for six months or more.

For each lender, the rules and ideas about this differ. There usually are no issues in being a First Time Buyer. To qualify for stamp duty relief, First Time Buyers must have never been property owners in any location in the world previously.

The mortgaging process might appear to be challenging, but this isn’t necessarily so. Buying your first home can be exciting, so if you come across a suitable broker who can handle the process for you at a fair price, do take advantage of their expertise. The purpose of using one is straightforward enough. After all, if you don’t know a thing about cars and yours breaks down, you would rather call a mechanic than fix it yourself. The same applies to mortgages. With mortgage brokers, you can cut down on money, effort and time, so you should use one. You won’t have to pay for the initial consultation.

*interesting links in our website*



Massey Divall Financial Services are an appointed representative of The Right Mortgage Limited which is authorised and regulated by the Financial Conduct Authority.

The Financial Conduct Authority does not regulate most buy to let mortgages.

The guidance and /or advice contained within this website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK

Conveyancing isn’t regulated by the Financial Conduct Authority.

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